21 May, Muscat: In line with its ongoing commitment to supporting sustainable development initiatives with lasting social impact, Bank Nizwa, the leading and most trusted Islamic bank in the Sultanate of Oman, has announced the signing of a Memorandum of Understanding (MoU) with the Health Endowment Foundation (ATHAR). This strategic partnership aims to enhance the role of the health endowment sector in promoting inclusive development, aligned with the national priorities outlined in Oman Vision 2040.
The agreement was signed on Wednesday, May 21, 2025, by Mr. Khaled Al Kayed, Chief Executive Officer of Bank Nizwa, and Mr. Ahmad Abdullah Al Khanji, Chairman of the Executive Committee, Board Member of the ATHAR Foundation, in the presence of senior officials from both institutions.
The memorandum aims to strengthen institutional cooperation between the two parties, with Bank Nizwa providing logistical and technical support to the ATHAR Foundation in implementing its strategic and operational plans—particularly in the areas of endowment investment and the development of health-related projects with sustainable impact. The collaboration also includes capacity-building initiatives designed to enhance professional competencies, as well as promoting ATHAR’s financial services and activities through Bank Nizwa’s various communication channels. Under the agreement, ATHAR will maintain its primary banking relationship with Bank Nizwa and recognize the bank as its strategic partner across all relevant media platforms.
Commenting on the occasion, Mr. Khaled Al Kayed stated: “At Bank Nizwa, we firmly believe in leveraging our Islamic banking expertise to support endowment institutions that serve meaningful social objectives, especially in vital sectors like healthcare. This partnership stands as a model for effective integration between Islamic finance and the endowment sector, reinforcing our shared commitment to sustainable development and delivering long-term value to Omani society.”
For his part, Mr. Ahmad bin Abdullah Al Khanji emphasized that the MoU represents a strategic step towards developing an integrated health endowment model based on partnership and specialization. He stated, “We are committed to advancing institutional and professional health endowment services that benefit all segments of Omani society. This partnership with Bank Nizwa will further strengthen our capabilities and expand our positive impact.”
The memorandum also provides for the formation of a joint working group to oversee the implementation of mutually agreed programs and projects, and to submit periodic reports to the senior management of both institutions. Additionally, it allows for the signing of separate executive agreements for any future initiatives.
This partnership aligns with Bank Nizwa’s ongoing efforts to reinforce its position as a leading Islamic financial institution committed to supporting sectors with substantial social and economic impact, by providing innovative, Sharia-compliant financial solutions that embody national sustainability values.
